FB pixel

Trulioo’s compliant onboarding and identity verification enables investment platform’s expansion

Trulioo’s compliant onboarding and identity verification enables investment platform’s expansion
 

Australian-based investment platform Stake’s use of the Trulioo GlobalGateway to provide digital identity verification and regulatory compliance for the company’s services are enabling its expansion into new markets.

The partnership allows Stake’s customers to be onboarded and instantly verified from anywhere with GlobalGateway. They will then be able to deposit funds via the app and start trading in the U.S. stock market on the same day, according to a case study from Trulioo.

Stake has been collaborating with Trulioo for nearly three years, with GlobalGateway being deployed to allow verification checks for new customers in Australia, New Zealand, and the UK.

The investment firm measures and tracks a sample of automatic ID verifications for each country, and has set a 70 to 75 percent internal requirement for their registration pass rate. Trulioo GlobalGateway provides a range of tools for identity verification and regulatory compliance, including biometrics, which partners integrate to meet the needs of the particular application and market.

Utilizing GlobalGateway’s data in real-time to benchmark against, Stake is able to deploy actions accordingly to timely convert customers.

Maximizing digital identity verification capabilities

According to Dan Silver, COO of Stake, digital identity verification is critical to the company’s business success.

“When optimal onboarding is achieved, with real-time identity verification, customers are almost 250 percent more likely to deposit funds into their Stake account.”

Joining forces with Trulioo empowered Stake to simplify the onboarding process and increase revenue.

To this end, Stake has also added a digital document upload function to its app, as well as divided the onboarding process into three intuitive steps.

According to the Stake case study, the partnership with Trulioo comes amidst a spike of users since the beginning of the pandemic, who have more than doubled between January and April.

Stake has experienced increased interest in stocks for technology giants, as well as the awareness of customers of general market fluctuations and the desire to exploit big changes in stock prices.

Stake confirmed GlobalGateway has been able to meet and support this spike in demand, keeping the platform stable and preventing outages.

Moving forward, Stake said the company will keep working with Trulioo to expand its reach to new territories and towards new investment opportunities.

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News

 

‘Facial recognition is the easy part’: digital travel ID pilot results are in

Air travel has been getting more complicated. From security and passport checks to special documents such as COVID-19 certificates, passengers…

 

Worldcoin expands to Ecuador, set to resume in Kenya and Portugal

Chalk up a win for Worldcoin in Kenya, where authorities have dropped their investigation into the iris biometrics and digital…

 

Corsight, Segdboa supply facial recognition to São Paulo military police

Corsight AI has partnered with Segdboa to provide the São Paulo Military Police with advanced facial recognition technology, with the…

 

Vote begins on biometric injection attack standard

Europe’s standard for biometric data injection attacks is on track to be published in October of this year, and could…

 

Idex, Zwipe each strike biometric access card deals

Norway-based Idex Biometrics‘ access control system has received an integration order for biometric access cards, while fellow Nordic developer Zwipe…

 

Indonesian ports automate with HID FRT to reduce wait times

A case study from HID breaks the deployment of its facial recognition technology (FRT) for automated border control by Indonesian…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events